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Forensic Accounting, Forensic Techniques, and Fraud Detection Copyrighted 2001 D. Larry Crumbley, ... - page 311 / 352

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© D.L. Crumbley

Some Exercises

30)

Given the following facts about Sammie Bright, calculate his preliminary understatement using the Cash-T method.

Schedule C expenses$102,000

Personal living expenses    59,000

Schedule C receipts  112,000

31) Based upon the following facts about Phil Tizzard, in Sour Lakes, Texas, calculate any unexplained net worth increase (if any):

    Computed Net worth (reported income

less expenses)  $520,000

Calculated Net worth (actual net worth

recalculated upon actual assets less liabilities) $618,000

  Income                           $93,000

  Expenses    $67,000

32) Ben Lautenberg is a waiter in Las Vegas, and reports tip income of $4,200 for the year. The restaurant sales where he works were $360,000 and there were 5 waiters. Assume that the waiters have about the same amount of sales. Compute Ben’s tip income recomputed if customers’ tip percentage is approximately 11%

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